N-CSRS 1 elfuntrustncsr.txt ELFUN TRUSTS - SEMI ANNUAL REPORT FOR THE PERIOD ENDED JUNE 30,2004 OMB APPROVAL OMB Number: 3235-0570 Expires: OCT. 31, 2006 Estimated average burden hours per response: 19.3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-00483 ----------------------------------------------------------------- Elfun Trusts ------------------------------------------------------------------ (Exact name of registrant as specified in charter) 3001, SUMMER STREET,STAMFORD, CONNECTICUT, 06905 ------------------------------------------------------------------- (Address of principal executive offices) (Zip code) GE ASSET MANAGEMENT,3001, SUMMER STREET,STAMFORD,CONNECTICUT, 06905 ------------------------------------------------------------------ (Name and address of agent for service) Registrant"s telephone number, including area code: 800-242-0134 ---------------------------- Date of fiscal year end: December 31, 2004 --------------------------- Date of reporting period: : January 1, 2004 - June 30, 2004 ------------------------- ITEM 1. REPORTS TO STOCKHOLDERS. Elfun Trusts (the "Fund" or "registrant") is an employees' securities company as defined in the Investment Company Act of 1940, as amended ("1940 Act"). The Fund has received an exemption from various provisions of the 1940 Act,including Section 30 and the rules there under. Pursuant to this exemption,the Fund prepares and sends to shareholders only one financial report per year,its audited annual report, which is sent to shareholders within the required time following its fiscal year end. The Fund understands from consultations with the staff of the Securities and Exchange Commission (the "staff of the SEC") that, because the Fund is not required under Section 30 of the 1940 Act to prepare and file a semi-annual financial report for the current period, it is also not required to prepare and file one for the current period with respect to this report on Form N-CSR. Item 2. CODE OF ETHICS. Applicable only to an annual filing. Item 3. AUDIT COMMITTEE FINANCIAL EXPERT. Applicable only to an annual filing. Item 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. Applicable only to an annual filing. Item 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. Applicable only to an annual filing. Item 6. SCHEDULE OF INVESTMENTS. Not applicable. See Item 1. Item 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Applicable only to Closed-End Management Investment Companies. Item 8. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. Applicable only to Closed-End Management Investment Companies. Item 9. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. No material changes to the process. Item 10. CONTROLS AND PROCEDURES. The Fund understands from consultations with the staff of the SEC that,because the Fund is not required under Section 30 of the 1940 Act to prepare and file a semi-annual report for the current period, its certifying officers are not required to (a) conduct an evaluation of the Fund's disclosure controls and procedures for the current period and (b) disclose their conclusions regarding such evaluation and the effectiveness of the Fund's disclosure controls and procedures. There were no significant changes in the registrant's internal controls or inother factors that could significantly affect these controls subsequent to the date of their last evaluation, including any corrective actions with regardto significant deficiencies and material weaknesses. Item 11. EXHIBITS. (a) Not applicable. (b) Attached hereto, as Exhibit 1 and Exhibit 2 are the Certifications of John H. Myers and Robert Herlihy as principal executive officer and principal financial officer, respectively, as required by Rule 30a-2 under the Investment Company Act of 1940. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this reportto be signed on its behalf by the undersigned, thereunto duly authorized. Elfun Trusts /s/John H. Myers By: John H. Myers Title: Trustee, President and Chief Executive Officer, GE Asset Management Incorporated Date: September 02, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. /s/John H. Myers By: John H. Myers Title: Trustee, President and Chief Executive Officer, GE Asset Management Incorporated Date: September 02, 2004 /s/Robert Herlihy By: Robert Herlihy Title: Treasurer, Elfun Funds Date: September 02, 2004 EXHIBIT INDEX (b)(1) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2 under the Investment Company Act of 1940.